Real Estate Is Your Business is a series of conversations with the innovators, entrepreneurs, and thought leaders at the forefront of the modernization of the real estate industry. Hosted by real estate technology entrepreneur Thomas Kutzman and business development expert Scott Pollack, you will hear the about the exciting technological and business innovations that are improving the way we live, work, and pretty much do everything.
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Thomas Kutzman and Scott Pollack review their journey on “Real Estate Is Your Business”, notable guests, what the hosts have learned, and how the industry is transforming, in the MouthMedia Network studios powered by Sennheiser.
034 – Minta Kay and Salil Gandhi of Goodwin Procter – The Law of PropTech
Episode 35
Thursday, September 27, 2018 • Duration 54:23
Law firm Goodwin Procter LLP launches PropTech practice to serve intersection of real estate and technology innovation…
Minta Kay (Chair of Goodwin’s Real Estate Industry group) and Salil Gandhi (partner in Goodwin’s Technology group) of Goodwin Procter LLP, join Thomas Kutzman and Scott Pollack in the MouthMedia Network studios powered by Sennheiser. Presented by Prevu.
In this episode:
What inspired the PropTech initiative at Goodwin Procter
The firm’s huge global real estate bench, and huge technology bench
How the firm has been getting a lot of calls, inquiries
Woke up with convergence of practices, obvious place to go
Tech – type of company, not an industry sector
Also Fintech, Blockchain, do a lot in that space as well
Real estate has been slow to adopt tech—that’s changing
Need to pay attention, a cascade coming down around them
Real estate becoming a service instead of just a hard asset
The greatest potential for opportunity
From first innovations on prop tech side on consumer listing sites, been seeing it on consumer side for awhile, bigger than a couple of entrepreneurs disrupting
Investors are investing to remain abreast of latest innovations
Keeping informed on opportunities to return investor returns, smarter buildings, manage portfolios
How people are thinking about what a building is and how it is structured, and that it is driving business decisions and entrepreneurial innovation
Why autonomous cars are important for real estate
Why re-purposing of spaces and buildings is huge
Going to raise a lot of new bureaucratic activity, permitting, zoning
Collecting more data than ever before, so sourcing deals to pricing deals, design, maintenance
From one transaction to an ongoing sharing of information
Open-mindedness on real estate and regulatory that will allow innovation to occur
Elasticity in the space is very important
The need to house fleets of vehicles is coming, a shift is needed
How smart contracts can shift advice business
From ballet, chemical engineering and art history — to law
025 – Vincent Pavanello and Robin Rivaton of “Make Real Estate Great Again – Real Estech in Europe
Episode 26
Friday, June 22, 2018 • Duration 59:13
Real estate technology disruption…
Vincent Pavanello and Robin Rivaton co-authors of the book “Make Real Estate Great Again”, focused on real estate technology disruption and is co-founders of the Real Estech community in Paris, France, join Thomas Kutzman and Scott Pollack in the MouthMedia Network studios in New York, powered by Sennheiser. Presented by Prevu.
In this episode:
The show’s first guests from continental Europe, who are building a community in real estate tech
Bridging the gap between offerings those who want to buy goods and services
The community’s first days, three friends created website produced articles on startups
The consumers are changing and companies have to pay attention to user experience
The need to be merging pieces of a value chain and control quality, like automotive industry
Making real estate great again
Tech makes buildings fitted with people’s needs
Urbanization, more people living in more cities than before
Making a city denser to attract more people
Density leads to productivity, wealth requires different types of people with different skills put together
Next, thinking of how you move them all around efficiently
The perfect city for all social classes
The importance of creating buildings fit for real people now, while respecting history of city
Cities that exist today vs. the kind of cities that can exist 100 years from now
Considering climate change, population change, culture, economy, and when people will/would start migrating
Direct access to the sea as a factor in city creation and growth
024 – Chris Avery of Updater – America’s Favorite Moving App
Episode 25
Thursday, June 7, 2018 • Duration 48:49
Why influential real estate companies offer an invite-only moving app from Updater to clients, delivering huge value during a stressful time…
Chris Avery, VP of Real Estate for Updater (Updater‘s moving app is the smartest and safest way to reserve a moving company, connect TV and internet, update accounts, forward mail, transfer utilities, etc.), joins Thomas Kutzman and guest host Marc Raco in the MouthMedia Network studios powered by Sennheiser. Presented by Prevu.
In this episode:
How Updater is solving a logistical problem
Relocation tech
Buyers, sellers, renters, branded experience through real estate partners, brands, multi family companies, realtors
Automate all moving and related tasks that are all part of a painful experience
Forwarding mail, subscriptions, and utilities
Fostering partnerships, teams of industry experts
Doing new things vs. creating new experiences
How Updater is paid for, and it doesn’t affect the consumer (free), and the broker or property management company pays for it, as an invite-only platform
How the app catalogues everything that moves and event the condition of property
Testing new ways to keep consumers engaged in platform even post move
Providing moving offers with discounts, helpful info etc., coupons
Giving the consumer a complete view of a market, not recommending specific purchases, created competition on the platform including ratings and scores
Last year nearly 20% of all household moves were processed though Updater
A lot of A/B testing and measuring consumer behavior
How Updater works to get brokers on board
Setting an expectation with the consumer that this is what they should expect of brokers, a kind of seal of approval
Incredible donuts that are an Updater favorite
How the process works for an agent, and how Updater only works with real estate brokerages that work with one of the tech partners they integrate with
023 – Rebecca Fitts of The Wild West of Retail – Apocalypse or Revolution?
Episode 24
Friday, June 1, 2018 • Duration 49:25
Retail and its effect on real estate…
Rebecca Fitts, Principal Consultant for The Wild West of Retail (a consultancy focusing on non-traditional retail real estate strategies, brick and mortar customer experience and omni-channel solutions in the physical space) joins Thomas Kutzman and Scott Pollack in the MouthMedia Network studios powered by Sennheiser. Presented by Prevu.
In this episode:
Is ecommerce causing retauil apolcolypse, or revolution?
The many changes going on in retail, surplus of retail real estate, need to find way out of that
Figure out way that retailers can handle taking on overhead
Digitally native brands opening up physical stores, customers want to have a touch/feel experience with brands
How a physical store can help reduce amount of returns
How there are no “pure plays” anymore
Why physical retailers have harder time moving to ecommerce than ecommerce moving physical
Westfield’s World Trade Center Oculus mall, public/private partnership, commuter hub
Downtown redeveloping itself post-9/11 in NYC, a great comeback
Mixed use of property, the way cities are growing
The changing relationship between tenants and landlord, the difficulty of physical spaces taking long term leases
An interest in commuter hubs for brands
The need for experiences to be dynamic and changing, and are some physical stores too static to adapt?
Retail trying to think in a new and different way
Advancements in technology allowing you to reconfigure the store more frequently and easily
Virtual reality, augmented reality, and smart mirrors allowing great things to be done in the store to expand experiences
How Fitts is outgoing and enjoying being in a field that bounces around and changes
022 – Naman Desai of Quo – Enabling Collaboration and Engagement
Episode 23
Wednesday, May 23, 2018 • Duration 47:08
Real estate agent + client collaboration platform…
Naman Desai, Co-Founder at Quo (which simplifies real estate agent + client collaboration via a platform and mobile app) joins Thomas Kutzman and Scott Pollack in the MouthMedia Network studios powered by Sennheiser. Presented by Prevu.
In this episode:
A customer engagement tool that empowered brokers, allowing them to work closer with clients, increasing efficiency
How the app allows agents and clients to search and share listings together in one place, as a neat and organized way to keep track of properties they view, with the ability to take notes and store photos, better streamlining the process to make better decisions more quickly
Allowing the app to maintain a place as preferred place to engage and track real estate opportunities and clients
How Quo gives brokers an app to put in their clients’ hands, positioning the broker as more tech-forward
How Quo can help speed up process of scheduling a viewing, with automation, and reduces time lag
More feedback opportunities for the client, providing a good data and analytics resource
Building out algorithms to suggest properties actively
Obvious use case in New York City, but why in Cleveland?
Looking to integrate CSS, zero lag time
Is the tool more vertical vs. suburban?
Markets with a lot of buyer and seller activity
How Quo started as a concierge service for renters looking for new apartments
How the co-founders realized a lot of people had a similar knack for helping people in the real estate space to help with real estate process; and, as the company grew and looked to scale, it started doing focus groups and one was people helping with what worked for them — and the biggest was when they had a friend that helped them
Agents wanted the communication platform, not the concierge service
Pivoting to the communication tool
021 – Francesca Loftus of hOM – Amenities, Data, and Bouncy Houses
Episode 22
Thursday, May 17, 2018 • Duration 45:19
Developing community with residential and office properties and gathering data by providing technology-enabled amenities for tenants…
Francesca Loftus, CEO of hOM (technology-enabled amenity provider that partners with residential and office properties to develop community by providing on-site fitness programming and unique events for tenants) joins Thomas Kutzman and Scott Pollack in the MouthMedia Network studios powered by Sennheiser. Presented by Prevu.
In this episode:
How Loftus became focused on amenities
The company’s focus on amenities, especially in commercial buildings
The cash outlay to adjust floors is a big step, so offering programming or events in a vacant space or available accessible spaces is a useful alternative
The genesis of the idea, two of her cofounders are in fitness and real estate, her background in theater management,
Some success because of the proximity of buildings to fitness studios
Selling to amenities managers
Most managers have tried other things, trying to be on trend with other buildings, then contact them to execute, cant do it themselves
Despite offering a wide range, fitness is most requested and engaging, yoga leads that interest
The hOM programs are unique and catch people’s attention
Mini golf, bouncy houses, partnerships to execute and deliver in diversity
Building community gives an edge for landlords
Figuring out a model to provide benefits to fitness instructors, finding it was actually cost effective,
Why Loftus was forced to be smarter how running business
Utility players with the ability to get anecdotal data on the building, valuable team members but tough to find
Looking at people with their whole selves i.e. developers and yoga teacher
Listening for grit and experience (28 full time employees and 50 part time)
020 – Yin Lin of Sage Vacations – Vacation Rentals As a Group Experience
Episode 21
Thursday, May 10, 2018 • Duration 46:05
Short-term vacation rentals for groups…
Yin Lin, Founder/COE of Sage Vacations (a private real estate company with 10 vacation properties across the country, and partnering with institutions and investors to acquire, develop, and commercialize its property investments) and Founder of SheWorx (global collective of ambitious high-growth female entrepreneurs redefining leadership) joins Thomas Kutzman and Scott Pollack in the MouthMedia Network studios powered by Sennheiser. Presented by Prevu.
In this episode:
Lin discusses acquiring and commercializing residential property, undervalued property values
Distributing them on short term rental sites
Developing a short term rental portfolio.
There is a demand for large spaces for groups who cannot get same experience in standard hotel rooms
Looking at lesser known cities with high regional tourism, emerging cities
The experience of a space needs to be great, and the people feel the sense of community
Creating great experiences, and getting buy-in from the community for creating a network
Creating more bespoke developments which cater to the needs of the audience
How short term rentals have changed the vacation model, and the future of it depends largely on regulation
Why professionalism of short-term rentals reduces risk all around
How Lin got into the business
Part of Lin’s inspiration in building her business and portfolio is wanting to help women build wealth through real estate
What marathons have meant to Lin in understanding herself and her potential
Running in 5 continents so far, and what about Ironman competitions
019 – Isabel Berney and Truth Oladapo of Vacayo – Why Landlords are Falling in Love with Vacation Rentals
Episode 20
Monday, May 7, 2018 • Duration 55:41
Leasing long-term rentals and converting them into outstanding vacation homes which provide landlords higher income and eliminate vacancy risk with Vacayo…
Isabel Berney (COO/Co-Founder) and Truth Oladapo (CEO/Co-Founder) of Vacayo join Thomas Kutzman and Scott Pollack in the MouthMedia Network studios powered by Sennheiser. Presented by Prevu.
In this episode:
Helping people earn passive income and have upward mobility via real estate, and how landlords can short term rental their home
Absorbing the risk for the landlord, making possible to monetize asset right away, guaranteeing a certain rent and lease, furnish and manage the rental
Eliminating the need to be a landlord
Most people don’t want to be a landlord, it is just a path to passive income
Vacayo eliminates the need to be a landlord, by Vacayo being the tenant and the manager
How Berney and Olapdapo didn’t realize this was a business that could be scaled until they were well into it, how it grew organically into an arbitrage model that was thought out, but the service aspect grew also organically, and how the model was suggested by a landlord when Olapado was hacking wires in a building
Guaranteeing an income stream for the property that is generally higher than the market
How Vacayo can furnish a space within 48 hours
Being able to expand completely remotely, giving the supers the playbook, and how they can roll out and expand quickly into new markets
Why data assists with determining the true value of a home including rental potential
Startups are demanding and time consuming, ideal calling for a parent, complete flexibility over time, doing something you love that can be lucrative
Unbiased, data-driven ratings for every apartment building in New York City…
Yale Fox, CEO of Rentlogic (looks at a building’s history over time and rates it for quality and safety) joins Thomas Kutzman and Scott Pollack in the MouthMedia Network studios powered by Sennheiser. Presented by Prevu.
In this episode:
Creating a ratings system for apartment buildings
List of standards built into an iPhone app
Basic standards include heat, hot water, no mold or roaches
Corporate relocations into quality housing gives better chance employees won’t end up in low quality housing which can affect work performance, and for international students, affect academic performance
One of only few ways to differentiate the rental product when similar buildings and location
Ratings available online, and signage
Data certifications, increasing transparency
The genesis of the company from fighting in court and taking advice from a judge
Becoming a partner in a club and being a DJ, getting attention from a blog article
Trends from how open data is evolving from real estate space
Loftus is from Canada, ended up in New York, from a competitive girls prep school, full college ride in mathematics, wanted to go to NY for theater, ended up managing a theater at 17 years old, having a public facing “beard”, doing a lot of programming work
Being curious about everything, having a dual role as performer and manager
The kind of culture in the hOM office with meditation and breath-work, the company’s C3P0, rituals in the office
Putting a voice to the tenants of buildings, creating incentive to communicate with them and close a gap of communication
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